Student Debt Hits the Middle-Aged
Wall Street Journal
July 18, 2012
Student debt is spiking among all age groups, but middle-aged borrowers appear to be struggling most with payments, based on Federal Reserve Bank of New York data. As of March, the delinquency rate was 11.9 percent for debt held by borrowers aged 40 to 49 compared to 8.7 percent for borrowers of all ages. Experts say the middle-age demographic is experiencing particular difficulty with student debt due to several economic factors, including home depreciation and reduced savings. Earlier in the year, the Consumer Financial Protection Bureau said that total student debt outstanding exceeded $1 trillion, surpassing auto and credit card debt.
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